Independent teakettle refineries surge to 30pc of China's refining capacity, Argus study reveals

SINGAPORE, Oct. 4 2012 /PRNewswire/ -- The number of independent or "teakettle" refineries operating in China has expanded significantly in the past five years, and now represents about 30pc of the country's total refining capacity, according to an updated research study just published by global energy and commodity price reporting service Argus. This exclusive research study provides comprehensive first-hand information on China's independent refining sector.

"Inside China's teakettle refineries: A study of China's independent refinery sector" reveals that there are now almost 160 independent refineries in operation with a primary capacity of 191.18mn t/yr (3.8mn b/d), out of China's total refining capacity of 634.28mn t/yr (12.7mn b/d), as of April 2012. The refineries are growing in sophistication, with many adding secondary processing capacity.

Teakettle plants are processing more crude than ever before, in addition to using large amounts of fuel oil as feedstock. The growing influence of state-controlled firms as shareholders in these plants provides independent refineries with greater access to supplies, which means that the independent refining sector plays a critical role in supplying China with motor fuels and other oil products.

The second edition provides in-depth analysis of the business model of China's independent refiners, as well as comprehensive coverage of more than 160 refinery profiles. It contains over 50 tables and maps, with accompanying facts and figures.

"China's independent refiners are essential to product supply in China and they have a large impact on imports of fuel oil as well as consumption of domestic crude oil. These facilities are having a significant impact on the Chinese domestic market and we expect them to be important for many years," Argus Media chairman and chief executive Adrian Binks said.

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About Argus:
Argus Media is a leading provider of price assessments, business intelligence, market data, consultancy and conferences on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer, petrochemical and transportation industries. Argus energy and fertilizer prices are widely used by leading companies, governments and international agencies as benchmarks in supply contracts, risk management and planning.

Argus is headquartered in London and has more than 400 staff in offices in Houston, Washington, New York, Portland, Calgary, Santiago, Bogota, Rio de Janeiro, Singapore, Beijing, Tokyo, Sydney, Dubai, Moscow, Astana, Kiev, Porto, Brussels, Johannesburg and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company.


SOURCE Argus Media